Convenience Store with
For Sale
$799,000
1814 W State Street, New Castle, PA 16101
CommercialSale, New Castle, PA
Property Size2,500 SF
Lot Size0.29 Acres
Price / SF$319.60
Days on Market290
Property Features for 1814 W State Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
CC
Zoning description
CC
Parking
6
Subdivision
Union Twp - LAW
Standard status
Active
Lot size
0.29 Acres
Taxes and HOA fees
Tax Annual Amount
4689
Building Details
Year built
2019
Listing Agency:
CASTLE REALTY
Listed By:
Shellie Staph
(724) 654-5589
Added: Nov 24, 2025
Changed: Sep 9
Last Checked: Sep 10 at 11:06AM
MLS# 1731837
Copyright © 2026 West Penn Multi List, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,500-square-foot steel convenience-store building was constructed in 2019 and is configured for beverage retail. The property includes a drive-through service lane and six dedicated parking spaces for customers. Sale inclusions comprise the Master ID License and FF&E, along with slushy machines, commercial coolers, shelving, neon signage, and a skilled gaming room with Reznor heaters.
The property occupies 0.29 acres at 1814 W State Street in New Castle, Pennsylvania, within Lawrence County. CC zoning is identified for the site. The building's compact format, customer-access features, and installed retail equipment support continued use as a beverage-focused convenience operation.
The property occupies 0.29 acres at 1814 W State Street in New Castle, Pennsylvania, within Lawrence County. CC zoning is identified for the site. The building's compact format, customer-access features, and installed retail equipment support continued use as a beverage-focused convenience operation.
Key Highlights
- 2,500‑square‑foot steel building constructed in 2019
- Drive‑through service lane for customer pickups
- Six dedicated parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$24,535
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.07%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$490,700
$490.7K
Cap Rate 7%
$350,500
$350.5K
Cap Rate 9%
$272,611
$272.6K
Market Conditions
NOI Build-Up for 2,500 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$35.1K $14.04/SF
− Vacancy
−$2.4K −$0.95/SF
EGI
$32.7K $13.09/SF
− OpEx
−$8.2K −$3.27/SF
NOI
$24.5K $9.81/SF
Area
Lawrence County, PA
Vacancy
6.80%
Lease Rate
$14.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$490,700
Cap Rate 7%
$350,500
Cap Rate 9%
$272,611
Alternative Uses
Best Use
Specialty Retail
$350.5K
$306.7K – $408.9K
NOI $24,535 @ 7.0% cap · market cap 3.07%
Second Best
Retail
$297.0K
$259.9K – $346.5K
NOI $20,790 @ 7.0% cap · market cap 2.60%
Theoretical Best
Warehouse
$3.04M
$2.66M – $3.54M
NOI $212,556 @ 7.0% cap · market cap 26.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Turnkey business
Opportunity
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
246
Businesses Nearby
36k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 86%
Beauty & Spa 5%
Home Improvements & Furnishings 5%
Dining 4%
GetGo Gas Station
Shops & Services
19,765 visits/mo
0.1 miles
Dollar General
Shops & Services
8,737 visits/mo
0.4 miles
AutoZone
Shops & Services
2,158 visits/mo
0.4 miles
Cosmoprof
Beauty & Spa
1,960 visits/mo
0.3 miles
SUBWAY
Dining
1,371 visits/mo
0.1 miles
Demographics for 16101, PA
31,960
Population
14,755
Households
2.2
Avg Household Size
44
Median Age
18%
College-Educated
92%
High-School Grad
69.2 sq mi
ZIP Area
462
Density / Sq Mi
$50,481
Median Household Income
$36,670
Median Earnings
$706
Median Rent
$109,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
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Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Includes beverage-retail equipment, a service lane, and dedicated customer parking.
Where is this grocery and convenience store located?
The property is located at 1814 W State Street New Castle, PA.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: 2,500‑square‑foot steel building constructed in 2019; Drive‑through service lane for customer pickups; Six dedicated parking spaces
